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Article: Medical scheme under fire.(News)
- Article from:
- The Saturday Star (South Africa)
- Article date:
- July 11, 2009
CopyrightCOPYRIGHT 2009 Independent News & Media PLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BYLINE: Laura du Preez
An investigation has been ordered into the the country's third largest medical scheme, Bonitas Medical Fund, as well as into the scheme's administrator, Medscheme, after Bonitas allegedly used members' money for an incomplete property development and other investments.
It is alleged that Bonitas, which has 500 000 members, has put about R80 million of their money at risk.
The inquiry into the activities of the principal officer and trustees of the scheme will extend to the role of Medscheme in making irregular payments for the property development on behalf of the scheme.
It will also look into whether Medscheme, ...